Florence, Villa Monna Tessa will become an 'accessible' student residence with 480 places

The University of Florence and the Careggi University Hospital Trust have identified the iGeneration student housing fund, managed by Investire Sgr (Banca Finnat Group), for the realisation of a student housing project, following the change of use granted by the City of Florence to Villa Monna Tessa, owned by the University and the Careggi University Hospital Trust.

The fund has as its main investor Cdp Real Asset Sgr - through the Fnas fund - and is participated, among others, by the Fondazione CR Firenze.

The project presented by Investire SGR envisages the redevelopment of the historic property complex thanks to a total investment of around EUR 40 million. The project was awarded to the iGeneration Fund on 4 December. The project will have a major impact in terms of urban regeneration with the redevelopment of over 11 thousand unused square metres located in an area of over 15 thousand square metres. The project will provide 480 beds for university students at affordable rates. In particular, 50% will be at a subsidised rate based on the congruity criteria of the Ministry of the University, and the remaining 50% will be subject to a tariff agreement with the Municipality of Florence, as provided for by the urban planning constraint. Lastly, some thirty beds will be dedicated to accommodate family members of patients from health facilities in the area. The University will also have the possibility of opting for 41 places for the needs of particular categories of students.

Work is scheduled to start in the second half of 2025 and the new facility will be operational by the academic year 2027/2028. The iGeneration fund is dedicated to the development of affordable student living in Italy, with the aim of helping to bridge the gap between demand and supply in the university and professional housing sector. A goal made possible by the synergic intervention of national investors - first and foremost Cdp Real Asset - and territorial investors, such as banking foundations.